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587D8C54B48C6C1187258576004DB4A5 Hearing Summary


Date May 28, 2020      
Location SCR 357

Discussion of Potential Legislation - Committee Discussion Only

08:08:49 AM  

The committee was called to order.  A quorum was present.  Bo Pogue, Legislative Council Staff, explained that the committee would be discussing potential committee legislation to allocate premium moneys from the sale of certificates of participation under Senate Bill 17-267, and stipulated in House Bill 20-1377.  Mr. Pogue discussed some points of consideration in making these spending decisions.

08:09:05 AM  

Cheri Gerou, State Architect, provided input on how to spend moneys for controlled maintenance using the moneys allocated under HB 20-1377. Mr. Pogue responded to questions regarding how controlled maintenance funding fared during past recessions.  Steve Allen, Joint Budget Committee Staff, provided input on this issue, discussing state revenue trends and the impact of these trends on controlled maintenance spending going forward.  Discussion ensued regarding the potential for setting aside some of the SB 17-267 premium moneys for controlled maintenance spending in future years.  Ms. Gerou responded to questions regarding the ranking of controlled maintenance projects, and the best strategy for spending the SB 17-267 premium moneys.

08:26:09 AM  

Discussion continued regarding how best to use the SB 17-367 premium moneys. Mr. Pogue explained the steps to be taken to draft committee legislation for spending the premium moneys.  Representative Roberts discussed spending options, and other members weighed in on these options.  Rod Vanderwall, Office of the State Architect, provided input on his office's ranking process for controlled maintenance projects.  Discussion turned to the potential for funding certain capital construction continuation projects.  Senator Story discussed the status of collateral for backing future certificates of participation issuances.  Discussion returned to how best to allocate SB 17-267 premium moneys.  Mr. Vanderwall responded to questions regarding the criticality of certain capital renewal projects.  Discussion turned to how to best move forward with the controlled maintenance spending issue.

09:03:24 AM
Motion Request that committee legislation be drafted concerning controlled maintenance projects.
Moved Roberts
Rich Yes
Sonnenberg Yes
Story Yes
Valdez A. Yes
Roberts Yes
Fields Yes
YES: 6   NO: 0   EXC: 0   ABS:  0   FINAL ACTION:  PASS